As readers of this site know, I strongly believe that we are now in the middle of a major overall shift in economic trend that hasn’t been seen since the introduction of the paper bill in late 1700s england. Seen under this lens, I’m starting to think that there may be some truths to the claims that some of the traditional industries are making that their business is getting hurt by new technology. Their business is getting hurt but it’s not because of any particular evil on the part of Internet companies. The truth is that the reason those industries are starting to suffer from the propagation of Internet technology is that their traditional business models were based on inneficiencies in the market. The Music Industry Take, for example, the music industry. Traditionally, the music industry has been based on aggregating multiple songs on a piece of media. Every few decades, they would benefit from the introduction of a new technology (for example, shifing from LPs to 8-tracks, then to cassette tapes, then to CDs) as people had to basically purchase the same good over and over again when they upgraded their equipment. Then came the concept of a digital…